003 · Benchmarks
Maine State and Teacher.
Targets, ranges and benchmarks as the document states them. Our copy of the IPS.
| Asset class | Bucket | Target | Range | Benchmark |
|---|---|---|---|---|
| Growth | Multi-Asset / Other | 42.5% | 35–55% | — |
| Public Equity | Public Equity | 30% | 20–40% | — |
| Private Equity | Private Equity | 12.5% | 5–20% | Russell 3000 + 3% |
| Risk Diversifiers | Multi-Asset / Other | 7.5% | 0–12.5% | 0.3 Beta MSCI ACWI |
| Hard Assets | Real Assets / Infrastructure | 25% | 15–35% | — |
| Real Estate | Real Estate | 10% | 5–15% | NCREIF Property (lagged one quarter) |
| Infrastructure | Real Assets / Infrastructure | 10% | 5–15% | CA Infrastructure Median |
| Natural Resources | Real Assets / Infrastructure | 5% | 0–10% | CA Natural Resources Median |
| Credit | Fixed Income | 15% | 5–20% | — |
| Traditional Credit | Fixed Income | 5% | 0–10% | Barclays US Aggregate ex TreasuryBarclays US Aggregate, ex Treasury |
| Alternative Credit | Private Credit / Debt | 10% | 0–15% | 50% BAML US HY II + 50% S&P/LSTA US Leveraged Loan50% BAML US HY II + 50% S&P/LSTA US Leveraged Loan Index |
| Monetary Hedge | Fixed Income | 10% | 5–15% | — |
| US Government Securities | Fixed Income | 10% | 5–15% | — |
| Cash | Cash | 0% | 0–10% | — |
| Total Public Equity | Public Equity | — | — | Russell 3000 & MSCI ACWI ex-USA, based on ACWI weights |
| U.S. Government Securities | Fixed Income | — | — | 50% Bloomberg US Government Bond Market + 50% Bloomberg US TIPS50% Bloomberg Barclays U.S. Government Bond Market Index + 50% Bloomberg U.S. TIPS Index |